Madagascar billionaire Hassanein Hiridjee has secured another major vote of confidence from international financiers after AXIAN Telecom obtained a €170 million ($196 million) financing package from the European Bank for Reconstruction and Development (EBRD). The funding will support the expansion and modernization of the company’s telecommunications infrastructure across key African markets, extending a strong funding streak that has attracted hundreds of millions of dollars from leading development finance institutions over the past two years. The EBRD said the loan will help finance AXIAN Telecom’s capital expenditure plans in Senegal and Kenya, while also supporting future expansion opportunities across the continent.
According to Reuters and Business Insider Africa, the facility consists of a committed tranche dedicated to upgrading mobile and fixed broadband networks and an additional tranche that could be deployed for future organic and inorganic growth initiatives. The financing will support the rollout of advanced 4G and 5G infrastructure, expansion of fibre networks, modernization of core telecommunications systems, and broader connectivity improvements in underserved regions. AXIAN Telecom currently operates in 10 African markets, serving millions of customers through its telecommunications, mobile money, data center, and digital infrastructure businesses.
The latest funding follows a series of major capital injections into the Hiridjee-led group. In 2025, the African Development Bank approved a $160 million corporate loan to accelerate AXIAN Telecom’s digital expansion across multiple African countries. Earlier this year, AXIAN Group also secured a €300 million financing partnership with Proparco to support investments in digital infrastructure, renewable energy, and technology-led growth initiatives across the continent. These transactions have reinforced AXIAN’s position as one of Africa’s fastest-growing infrastructure and technology groups.
For Africa’s digital economy, the EBRD financing highlights growing international investor confidence in telecommunications infrastructure as a driver of economic growth, financial inclusion, and technological transformation. Analysts say rising demand for mobile connectivity, broadband services, cloud infrastructure, and digital financial services continues to create significant opportunities for operators capable of scaling across multiple markets. As AXIAN Telecom deepens its footprint in Africa’s rapidly evolving digital landscape, the latest financing is expected to strengthen its ability to compete with larger regional operators while expanding access to connectivity for millions of consumers and businesses.
